iPerceptions - Customer Satisfaction Measurement

NEW YORK, NY - October 1, 2002 - The NASDAQ Stock Market received record high ratings for its NASDAQ.com and NASDAQ Online Web sites from users of the sites, according to two recently completed iPerceptions' webValidator studies. The sites received the highest ratings for web sites surveyed by iPerceptions.

NASDAQ.com, a leader among financial web sites, has attracted more than 6.5 million unique visitors to the site since May and nearly 200 million page views per month. The site offers comprehensive data for securities listed on all major global exchanges, U.S. equity options and mutual funds, as well as pre-market and after-hours Extended Trading Data.

The NASDAQ Online site is a password-protected web site for senior executives at NASDAQ-listed companies. The site is a resource for those executives to better manage their company's equity by tracking their stock performance against peers, target institutional owners and track analyst sentiment regarding their company's stock.

NASDAQ uses the study results as part of its ongoing initiative to better understand who was coming to their site(s), why they were there, and to obtain insight into the users' actual site experience. The studies help NASDAQ better understand what features were important to their users and profile the information needs of various user segments. The webValidator studies collected real-time feedback from more than 5,300 respondents.

"At a time when investor confidence is so critical, the results confirm that the NASDAQ sites are a reliable and trust-worthy source of financial information," said John Delta, vice president and general manager of NASDAQ.com. "The information generated from this report gives us a much better understanding of our users' priorities, what works and doesn't work for them. It also allows us to analyze the feedback by user segment, and develop enhancements and improvements to our site."

Similar results were achieved with NASDAQ Online; where over 98 percent of all respondents were satisfied with the site, with more than 79 percent of respondents visiting the site on a daily or more frequent basis. Users of the site strongly believe that the site is a valuable tool for their company.

"With more than 50 percent of its users being Vice Presidents and above, NASDAQ Online is the primary tool that NASDAQ-listed companies use to track and compare stocks and perform other tasks," said Bill Teague, vice president, NASDAQ Online. "The survey results clearly show that we are delivering a valuable and trusted service to our most loyal users and listed companies."

"Most web site owners underestimate the importance or implications of knowing who their web site users are and the value of systematically listening to, and understanding what they have to say," said Jerry Tarasofsky, CEO of iPerceptions. "NASDAQ does recognize the advantages of building a strong relationship with their web site users and the results of their webValidator studies are indicative of their commitment to excellence in the web channel", said Mr. Tarasofsky.

About iPerceptions Inc.

iPerceptions' webValidator Solutions Platform allows an organization to listen to and interpret how actual users value their web site, identifying the site's key strengths and weaknesses from a user perspective. Proprietary technology maps user group evaluations to a strategic behavioral framework. The webValidator delivers actionable information and industry best-practice benchmarks to web site owners enhancing the relationship between the organization and their users as well as driving increased profits and ROI. iPerceptions' clients include such recognized brands as Disney, Mazda, NASDAQ, Omni Hotels, Pfizer, Alcan, Bayer Pharmaceuticals, Sheraton Hotels, Reebok, CBS MarketWatch.com, Westin, Toshiba, AOL, General Motors and Holiday Inn.

About The NASDAQ Stock Market
NASDAQ is the world's largest stock market. With nearly 4,000 companies, NASDAQ lists more companies and trades more shares per day than any other U.S. market. Over the past five years, NASDAQ has outpaced all other U.S. markets in listing IPOs. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. NASDAQ is a key driver of global capital formation. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com

Contact information:

iPerceptions Inc.
Howard Firestone
Director, Marketing & Communications
877.796.3600 x 246
866.488.2600 (fax)
hfirestone@iperceptions.com

Nasdaq
Mike DeMeo
Associate Director, Media
212.768.2562
michael.demeo@nasdaq.com